{"id":1004769151,"date":"2025-08-21T03:45:35","date_gmt":"2025-08-21T11:45:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004769151"},"modified":"2025-08-21T06:31:09","modified_gmt":"2025-08-21T14:31:09","slug":"rcg-ventures-buys-cleveland-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/","title":{"rendered":"RCG Ventures Buys Cleveland Shopping Center"},"content":{"rendered":"\n

<\/p>\n\n\n

\n
\"Aerial<\/a>
Completed in 1989, Ridge Park Square comprises nearly 387,000 square feet of retail space. Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n

RCG Ventures has purchased Ridge Park Square, a 386,754-square-foot dual grocery-anchored shopping center in Brooklyn, Ohio. Zeisler Morgan Properties sold the asset in a transaction brokered by JLL. This was the property’s first presence on the market since its development.<\/p>\n\n\n\n

The deal follows RCG Ventures’ recent acquisition of a $1.8 billion multi-tenant retail portfolio<\/a> from Global Net Lease Inc. A three-phase transaction, the deal included 99 properties across 28 states, totaling more than 14 million square feet.<\/p>\n\n\n\n

A dual grocery-anchored asset<\/h2>\n\n\n\n

Completed in 1989 at 4788 Ridge Road, Ridge Park Square was 95 percent leased at the time of sale. Marc\u2019s and Grocery Outlet anchor the retail center, which features a tenant roster that also includes TJ Maxx, Ross Dress for Less, Michael\u2019s, Lowe\u2019s Home Improvement, Dollar Tree, Five Below, AMC Theatres, Michaels and Ashley Furniture.\u00a0<\/p>\n\n\n\n

Ridge Park Square has more than 6.1 million annual visitors. The retail center serves approximately 140,000 households on a 5-mile radius, with average incomes of $67,134 per year, according to RCG Ventures information.<\/p>\n\n\n\n

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READ ALSO: <\/strong>Why Investors Are Hungry for Grocery-Anchored Retail<\/a><\/p>\n\n\n\n

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The property is at the corner of Interstate 480 and Ridge Road, which sees approximately over 128,000 vehicles per day. Downtown Cleveland is within 10 miles north.<\/p>\n\n\n\n

JLL Capital Markets Senior Director Michael Nieder, alongside Directors Brian Page and Mohsin Mirza, led the Investment Sales and Advisory team representing the seller.<\/p>\n\n\n\n

In the first seven months of the year, retail investment sales in the Cleveland-Akron market amounted to $131.6 million, with 13 properties trading at an average of $113 per square foot, according to Yardi Research Data. The figure is significantly higher than last year’s, when retail sales amounted to $29.8 million through July 2024, with only eight assets changing hands at an average of $42 per square foot.<\/p>\n","protected":false},"excerpt":{"rendered":"

This was the property’s first time on the market since its 1989 completion.<\/p>\n","protected":false},"author":3619,"featured_media":1004769153,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21783,13,21742,21749],"tags":[32796,38545],"class_list":["post-1004769151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cleveland","category-investment","category-midwest","category-latest","category-retail","tag-jll","tag-rcg-ventures-llc"],"acf":[],"yoast_head":"\nRCG Ventures Buys Cleveland Shopping Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"RCG Ventures has purchased Ridge Park Square, a dual grocery-anchored shopping center in Brooklyn, Ohio, near Cleveland.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RCG Ventures Buys Cleveland Shopping Center\" \/>\n<meta property=\"og:description\" content=\"RCG Ventures has purchased Ridge Park Square, a dual grocery-anchored shopping center in Brooklyn, Ohio, near Cleveland.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-21T11:45:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-21T14:31:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Ridge-Park-Square-in-Brooklyn-Ohio-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1243\" \/>\n\t<meta property=\"og:image:height\" content=\"933\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/\",\"name\":\"RCG Ventures Buys Cleveland Shopping Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Ridge-Park-Square-in-Brooklyn-Ohio-edited.jpg\",\"datePublished\":\"2025-08-21T11:45:35+00:00\",\"dateModified\":\"2025-08-21T14:31:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/34bf2de3f952f3db52e303344f1799df\"},\"description\":\"RCG Ventures has purchased Ridge Park Square, a dual grocery-anchored shopping center in Brooklyn, Ohio, near Cleveland.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/rcg-ventures-buys-cleveland-shopping-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Ridge-Park-Square-in-Brooklyn-Ohio-edited.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Ridge-Park-Square-in-Brooklyn-Ohio-edited.jpg\",\"width\":1243,\"height\":933,\"caption\":\"Aerial shot of Ridge Park Square, a 386,754-square-foot dual grocery-anchored shopping center in Brooklyn, Ohio. 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